Polyplex Corporation Ltd
NSE: POLYPLEX · Packaging · sector
₹937.70NSE close 2026-10-26
Key numbers
Market cap₹2,943 cr
Price₹937.70
52w high / low₹1,264 / ₹740
P/E18.9xSector median 16.2x
P/B0.7xSector median 1.4x
Book value₹1,350.7
Dividend yield1.55%Sector median 0.58%
ROE3.9%Sector median 9.8%
ROCE6.9%Sector median 11.6%
OPM7.8%Sector median 9.2%
Debt / equity0.22xSector median 0.39x
EV/EBITDA4.7xSector median 7.7x
Interest cover6.4x
Current ratio2.59x
Sales growth 3y-2.5%Sector median +4.7%
Profit growth 3y-49.5%Sector median +0.8%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 63 companies in Packaging (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹1,059 cr vs borrowings ₹917 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 6.4x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 1 of the last 5 years (FY22).
- Net loss in 1 of the last 8 quarters.
- Revenue was higher than a year earlier in 3 of the last 4 quarters.
- Other income was 88% of net profit in the last 12 months.
- Dividend paid in 5 of the last 5 financial years.
- Price ₹937.70 on 2026-10-26: -25.8% from the 52-week high, +26.7% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹1,409.55 · low ₹791.70
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,739 | 1,721 | 1,740 | 1,739 | 1,794 | 1,682 | 1,871 | 2,254 |
| EBITDA | 191 | 121 | 64 | -1 | 103 | 105 | 88 | 296 |
| OPM % | 11.0% | 7.0% | 3.7% | -0.0% | 5.7% | 6.2% | 4.7% | 13.2% |
| Other income | 100 | 107 | 18 | 30 | 23 | 27 | 62 | 25 |
| Net profit | 88 | 58 | 10 | -19 | 25 | 15 | 25 | 91 |
| EPS (₹) | 27.97 | 18.40 | 3.22 | -6.15 | 7.87 | 4.70 | 7.90 | 29.00 |
| Revenue YoY | +3.2% | -2.3% | +7.5% | +29.6% | ||||
| Profit YoY | -71.9% | -74.5% | +145.3% | – |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 6,624 | 7,652 | 6,307 | 6,885 | 7,086 | 7,601 |
| EBITDA | 1,308 | 947 | 365 | 696 | 349 | 592 |
| Net profit | 569 | 348 | 38 | 209 | 45 | 155 |
| EPS (₹) | 181.19 | 110.97 | 12.05 | 66.64 | 14.32 | 49.47 |
| Revenue growth | +15.5% | -17.6% | +9.2% | +2.9% | +9.6% | |
| Profit growth | -38.8% | -89.1% | +453.0% | -78.5% | +13.9% | |
| Dividend / share (₹) | 100.00 | 71.00 | 5.00 | 10.00 | 6.50 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | -2.5% | +7.6% | +9.5% |
| Net profit | -49.5% | -38.5% | +13.9% |
| EPS | -49.5% | -38.5% | – |
| Share price | – | -10.9% (2y) | -3.6% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 3,483 | 3,511 | 3,763 | 4,240 |
| Borrowings | – | 787 | 728 | 865 | 917 |
| Cash & equivalents | – | 1,113 | 791 | 845 | 1,059 |
| Total assets | – | 7,397 | 7,431 | 7,998 | 8,914 |
| Fixed assets | – | 3,249 | 2,998 | 3,939 | 4,195 |
| Capital work in progress | – | 196 | 628 | 36 | 70 |
| Investments | – | 142 | 290 | 226 | 114 |
| Receivables | – | 921 | 971 | 1,016 | 1,125 |
| Inventory | – | 1,363 | 1,346 | 1,566 | 1,712 |
| Payables | – | 465 | 538 | 508 | 626 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 560 | 802 | 455 | 438 | 537 |
| Cash from investing | 1 | -115 | -796 | -473 | -509 |
| Cash from financing | -232 | -657 | -152 | -38 | -133 |
| Capex | 402 | 273 | 517 | 503 | 405 |
| Free cash flow | 158 | 529 | -62 | -65 | 132 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 10.0% | 1.1% | 5.6% | 1.1% |
| ROCE % | – | 17.5% | 2.8% | 10.6% | 1.4% |
| Debtor days | – | 44 | 56 | 54 | 58 |
| Inventory days | – | 104 | 119 | 132 | 140 |
| Payable days | – | 35 | 47 | 43 | 51 |
| Cash conversion cycle (days) | – | 113 | 128 | 143 | 147 |
| Working capital days | – | 122 | 130 | 123 | 132 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 26.73% |
| FIIs | 9.91% |
| DIIs | 2.86% |
| of which Mutual funds | 2.09% |
| Government | 0.00% |
| Public (non-institutions) | 60.51% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 26.69% | 26.69% | 26.73% | 26.73% | 26.73% | 26.73% | 26.73% | 26.73% |
| Promoter group | % |
|---|---|
| Secure Investments Limited | 22.10% |
| Bhilangana Hydro Power Limited | 1.93% |
| Sakhi Saraf | 1.82% |
| Amla Saraf | 0.83% |
| Huma Khalil | 0.03% |
| Sanjiv Chadha | 0.01% |
| Late Shri Narayandas Durgaprasad Saraf | 0.00% |
| Late Smt. Urmila Devi Saraf | 0.00% |
| Rohit Saraf | 0.00% |
| Aradhana Somani | 0.00% |
| Gauri Sanjiv Saraf (HUF) | 0.00% |
| Narayan Durgaprasad Saraf (HUF) | 0.00% |
| Sarita Saraf | 0.00% |
| Saraf Rohitkumar (HUF) | 0.00% |
| Sanjiv Sarita Consulting Private Limited | 0.00% |
| Public holders above 1% | % |
|---|---|
| AGP Holdco Limited | 24.28% |
| First Water Fund Class C | 2.63% |
| Nippon Life India Trustee Ltd-a/c Nippon India Small CAP Fund | 2.09% |
| 1729 Capital | 1.62% |
88,880 shareholders. Pledged: 0.00% of promoter shares.
Peers in Packaging
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| EPL | ₹7,100 cr | 18.3x | 2.5x | 14.9% | 17.0% | 19.3% | +8.8% | 2.25% |
| AGI | ₹4,590 cr | 12.7x | 1.9x | 16.1% | 19.6% | 22.5% | +5.3% | 0.98% |
| UFLEX | ₹4,111 cr | 6.0x | 0.5x | 8.8% | 8.9% | 13.5% | +1.6% | 0.53% |
| TCPLPACK | ₹3,649 cr | 31.6x | 5.1x | 16.9% | 17.8% | 15.3% | +7.9% | 0.75% |
| JINDALPOLY | ₹2,976 cr | – | 1.0x | -27.6% | -17.5% | -78.1% | -14.4% | 0.87% |
| POLYPLEX | ₹2,943 cr | 18.9x | 0.7x | 3.9% | 6.9% | 7.8% | -2.5% | 1.55% |
| XPROINDIA | ₹2,278 cr | 69.0x | 3.0x | 4.8% | 5.2% | 9.3% | -0.4% | 0.20% |
| KNACK | ₹2,038 cr | – | – | – | – | – | – | – |
| MOLDTKPAC | ₹1,928 cr | 25.3x | 2.8x | 11.4% | 13.4% | 19.1% | +6.7% | 0.69% |
| COSMOFIRST | ₹1,928 cr | 11.4x | 1.2x | 10.8% | 11.4% | 10.5% | +5.9% | 0.54% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-09-08 | Dividend | Dividend - Re 1 Per Share |
| 2025-11-21 | Dividend | Interim Dividend - Rs 2 Per Share |
| 2025-09-15 | Dividend | Dividend - Rs 4.50 Per Share |
| 2024-11-26 | Dividend | Interim Dividend - Rs 9 Per Share |
| 2024-09-20 | Dividend | Annual General Meeting/Dividend - Re 1 Per Share |
| 2023-11-17 | Dividend | Interim Dividend - Rs 2 Per Share |
| 2023-09-08 | Dividend | Annual General Meeting/Dividend - Rs 3 Per Share |
| 2023-02-24 | Dividend | Interim Dividend - Rs 30 Per Share |
| 2022-11-24 | Dividend | Interim Dividend - Rs 20 Per Share & Special Dividend - Rs 35 Per Share |
| 2022-09-22 | Dividend | Annual General Meeting/Dividend - Rs 21 Per Share |
| 2022-02-24 | Dividend | Interim Dividend - Rs 35 Per Share |
| 2021-11-24 | Dividend | Interim Dividend - Rs 15 Per Share |
| 2021-09-24 | Dividend | Annual General Meeting/Dividend - Rs 17 Per Share |
| 2021-08-25 | Dividend | Interim Dividend - Rs 33 Per Share |
| 2021-02-17 | Dividend | Interim Dividend - Rs 100 Per Share |
| 2020-11-19 | Dividend | Interim Dividend - Rs 15 Per Share |
| 2020-08-25 | Dividend | Annual General Meeting/Dividend - Rs 6 Per Share |
| 2020-08-25 | Dividend | Interim Dividend - Rs 32 Per Share |
| 2019-11-21 | Dividend | Interim Dividend-Rs 11 Per Share |
| 2019-08-27 | Dividend | Annual General Meeting/Dividend - Rs 10 Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacture of polymeric products: Manufacture of polymeric products
| Sector | Industrials |
| Industry | Packaging |
| Sub-industry | Packaging |
| Symbol | POLYPLEX |
| BSE code | 524051 |
| ISIN | INE633B01018 |
| Face value | ₹10.0 |
| Incorporated | 1984-10-18 |
| Website | www.polyplex.com |
| Plants (India / abroad) | 2 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.